Federal Economic Development Agency for Southern Ontario

Federal Economic Development Agency for Southern Ontario

July 23, 2015 10:20 ET

Investing in First-in-Canada Technology, Supporting Ontario's Vital Manufacturing Sector

MISSISSAUGA, ONTARIO--(Marketwired - July 23, 2015) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Today, the Honourable Gary Goodyear, Minister of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), and Brad Butt, Member of Parliament for Mississauga-Streetsville, announced that Therapure Biopharma Inc., a Canadian-based manufacturing firm specializing in biotechnology, will receive $20 million under the Advanced Manufacturing Fund (AMF). The AMF promotes continued growth of Ontario's advanced manufacturing sector by supporting large-scale, transformative manufacturing activities.

The Harper Government's investment will allow Therapure to accelerate the design, development and commercialization of its PlasmaCap Expanded Bed Adsorption (PlasmaCap EBA™) technology. Using this first-in-the-world technology, the Mississauga-based company, with its proprietary technology, can yield more protein from the same amount of plasma and seperates the proteins faster, and at a lower cost, than existing processes used worldwide.

This important contribution will support Therapure in the commercialization of a unique 'turn-key solution' that will allow global clients to engage in the separation of plasma proteins and reduce their reliance on imports. Initially, two blood proteins will be targeted and manufactured at the Mississauga facility; albumin used to replenish or maintain blood volume after a traumatic injury and intravenous immunoglobulin (IVIG) for chronic conditions such as Primary immunodeficiencies (PI).

Quick Facts

  • Therapure expects that 91 jobs will be created as a direct result of this project, in addition to new jobs created through the company's Canadian supply chain while helping to establish southern Ontario as a world-class cluster for biologics and plasma protein technology.
  • The manufacturing sector is a major contributor to Canada's economy, employing more than 1.7 million Canadians, of which nearly 750,000 live in Ontario. It also accounts for half of the business R&D in Canada and generated sales of $621.7 billion in 2014, including $286.6 billion in sales for Ontario alone.
  • Nearly 80,000 manufacturing establishments exist across the country. More than 32,000 manufacturing establishments exist in southern Ontario and contribute enormously to local economies.
  • The Harper Government has provided $1.4 billion dollars of tax relief to the manufacturing sector and total business tax costs in Canada are now the lowest in the G7.
  • Since 2009, the Harper Government, through FedDev Ontario, has committed almost $350M to an expected 2,100 direct and indirect manufacturing projects. These investments are expected to generate an additional $215 million in leveraged funding for these projects.

Quotes

"I am delighted to be here, in my home riding of Mississauga-Streetsville, to announce Therapure Biopharma as a recipient under the Advanced Manufacturing Fund. Today's investment in this local company is one of many investments under the fund, which will ensure greater productivity for manufacturers, creating jobs for our people and prosperity for Ontario and all of Canada."

- Brad Butt, Member of Parliament for Mississauga-Streetsville

"Therapure BioPharma Inc. stands as an inspirational example of Canadian entrepreneurship and innovation. Our Government is proud to support the successful technologies Therapure is developing - technologies that will provide important new options for patient care and contribute to an already thriving Ontario manufacturing sector."

- Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario

"This investment, for which we thank the Government of Canada, will help us expand our scope and accelerate our growth in the plasma proteins industry. This expansion was a natural progression for Therapure after having established ourselves as a successful contract manufacturer of complicated biologics with additional expertise in plasma-derived proteins. We believe that our PlasmaCap EBA™ technology that delivers the highest yields in the industry,and will allow us to produce safe, quality, life-changing products for patients."

- Nick Green, President and CEO of Therapure

Related Products

Speech: FedDev Ontario Announces Project under the Advanced Manufacturing Fund

Associated Links

Advanced Manufacturing Fund

Therapure Biopharma Inc.

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